43.05.020 Effective Date- Exemptions for Banks and Others

(a) Provisions of this Code shall be in full force and effect as follows:

(1) effective immediately upon the Tribal Council's adoption of this Code: Part One - Establishment of the Tribal Lending Code and Lending Regulatory Commission, which includes Sections 1, 2, and 3; and Part Five – Miscellaneous Provisions, which includes Sections 13 and 14;

(2) effective 30 days after the Tribal Council's adoption of this Code: Part Two - Issuance of Licenses & Regulation of Licensees, which includes Sections 4 and 5;

(3) effective 90 days after the Tribal Council's adoption of this Code: Part Three - Substantive Laws and Prohibited Acts, which includes Sections 6, 7 and 8;

(4) effective 90 days after the Tribal Council's adoption of this Code: Part Four - Enforcement Powers, which includes Sections 9, 10, 11 and 12;

(5) Nothing in this Code, nor any action of the Commission, shall be deemed or construed to be a waiver of sovereign immunity of the Tribe from suit or counterclaim or consent of the Tribe to the jurisdiction of any court.

(b) The following persons or entities are expected to comply with applicable laws but are otherwise exempt from any other provision or application of this Code:

(1) any Person or third-party provider of products or services whose only connection to the Lending Operation is:

(A) in support of a Licensee business not related to Covered Loans;

(B) participating in future revenues of Covered Loans;

(D) providing technical service or software support to a Licensee;

(2) any credit reporting agency, payment processor, entity engaged in the business of insurance, or any third-party that is subject to supervision under federal law, including the Consumer Financial Protection Act, Securities and Exchange Act, Federal Credit Union Act, Commodities and Futures Trading Commission Act, Farm Credit Administration, or the Federal Reserve Act;

(3) any financial institution insured by the Federal Deposit Insurance Corporation;

(4) any employee of the above; or

(5) any Person the Commission designates by regulation as providing a product or service to a Licensee that poses no or attenuated risk of causing consumer harm.